We live in an era where startup culture is rampant and spreading like wildfire.
Indeed, we hear about very successful startups getting millions of Dollars funding from domestic or foreign investors.
Such news would definitely bring a question to your mind: “Is having a startup better than a regular job?” This is a rather tricky question to answer. Obviously, there’re several factors one has to consider.
Regular Job v/s Startup
For one, a regular job means a regular monthly income and certain allowances. There’s certain benefits you can expect from an employer. You work during fixed hours, get opportunities for promotions and salary hikes and some other fringe benefits from the employer. As employee, you’re free to leave the service of any employer and look for better opportunities elsewhere.
In stark contrast, owning a startup involves risk. It could take some months for your startup to begin paying off some profits. This means, you’ll have to live off your savings. Owning a startup is prestigious but it comes along with a plethora of uncertainties. And worse. Between 60 percent and 90 percent of startups flounder and fail within the first five years due to various reasons.
This contrast might alarm any prospective entrepreneur from launching a startup. However, having a startup is better than a regular job for several reasons.
What are they? Continue reading.
Why Startups Are Better Than Job?
If you’re serious about entrepreneurship but torn between having a regular job, here’re some excellent reasons why a startup.
Requires Minimal Investments
Investments are one of the reasons most budding entrepreneurs shy away from launching startups and opt for regular jobs. Actually, launching a startup doesn’t really require much investment. You can launch one from your home and offer services online. This eliminates the need for office and staff. However, you’ll require an excellent business idea for your startup to ensure its success.
Your Innovation Goes to Work
Let’s get this clear. Most startups fail because they’re mere copycats of successful businesses. However, if you’ve an innovative idea for a product or service, there’re excellent chances that your startup would become a roaring success. Classic examples of innovative and successful startups include Airbnb and Amazon. The founders of these companies came up with ideas that would serve people and were groundbreaking at the time. The results are for everyone to see. By launching a startup, you’re giving wings to your innovative ideas that helps to become rich.
Job Plus Startup
And there’re no hard and fast rules that you can’t hold a regular office job and a startup at the same time. In fact, most entrepreneurs launch a startup while holding a regular job. This ensures their lifestyle isn’t disrupted due to shortage of funds. At the same time, they’re able to manage the startup with the help of relatives. You can always bid adieu to the regular job when your startup is successful and begins paying rich dividends.
Excellent Chances to Get Funding
Just in case you’re unaware, there’re countless Venture Capitalists, crowdfunding platforms, public and private sector banks and Non-Banking Financial Companies (NBFCs) are willing to invest some money on your startup. However, it has to look promising for the future and sustainable. In fact, most VCs and lenders are looking for excellent, upcoming startups and are willing to invest in these for a small stake in the company.
Surely, these three top reasons will clearly indicate why having a startup is better than a regular job. Therefore, don’t let your innovative idea die a premature death or hesitate to become an entrepreneur.